First BanCorp in San Juan, Puerto Rico, increased capital ratios slightly in the first quarter, though they remain below the levels mandated by regulators.
The $15.1 billion-asset company reported Friday that its FirstBank unit had a Tier 1 leverage ratio of 7.6% and a total risk-based capital ratio of 11.97% at March 31, compared with 7.25% and 11.57%, respectively, the previous quarter.
A May 2010 enforcement action required the bank to raise those ratios to 8% and 12%. First BanCorp said, however, that the March 31 levels exceeded a target outlined in its capital plan with regulators.
First BanCorp's financial situation is showing improvement. The company reported a $28.4 million loss for the first quarter, compared with $251.4 million in the fourth quarter and $107 million a year earlier.
